Hamoudi: Iraq'seconomy is threatened … our dependence on oil is a big mistake

Hamoudi: The country's economy is threatened … our dependence on oil is a big mistakeWednesday, 26 August 2015 11:12

Shafaq News / The board member of the Presidency of the Parliament , Humam Hamoudi warned of falling global oil prices, stressing that the country's economy

is "endangered" if private and investment sector were not supported.

Hamoudi called during a meeting with the relevant committee in the economic aspect of the Iraqi elite organization and competencies, the Parliament committees to take a role in the activation of national and private sectors in supporting the national economy.

He said that depending on oil resources and neglecting the economic available resources is big mistake in the country, pointing out the importance of supporting private investment sector and contribute to the development of the economy and reduce the unemployment rate in the country.

He stressed the need for a comprehensive and thoughtful economic system that fit with the size of natural and human resources and takes into account the fluctuations in oil prices, and the existing deficit in the budget.